We’ll never see a complete end to the home office but this expansion into the cafe world has taken hold and is even lauded and applauded by the fact food chains.  McDonalds offers free internet in over 11,000 of their restaurants and the Chick-fil-A cahin is also offering free internet. Those well know fast food restaurants are seeing the trend and want to capture the internet savvy clientele that is now permeating the highways and byways of America.

McDonald’s move is particularly interesting because they had charged a 2.95 fee to use their internet service which was powered by the AT&T network and gave up a source of revenue to attract those customers.  I would be hard pressed to believe they made that move without some intense and serious market research.

You can’t walk in to a Panera Bread restaurant without seeing a bevy of people sitting and working on their laptops, interviewing prospective employees, selling an insurance program using the internet access to get the latest rates or just tapping away on their keyboard writing for their latest project. The ability to be able to just plop down almost anywhere and access the internet plays right into the fact that we are a mobile society dependent on the world wide web.

One man I know makes over 10,000 monthly without an office, home or otherwise, just accessing the free internet portals offered by the various restaurants with his internet marketing business.  Spending about 5 dollars a day on fuel and another 5 on coffee or drinks, he hits no less than 5 restaurants daily cruising around in a Mercedes SUV while dressing casually.

So, next time you see a guy wearing shorts and a golf cap, tapping away on a Toshiba laptop sitting at your local eatery, realize he isn’t some local bum but a businessman working in his office.

Ouch. While polls like these have their limitations (we often can’t—or won’t—tell the truth about our own purchase behavior), I suspect few us would doubt the overall conclusion that a lot of advertising doesn’t work very well. Your own advertising may even fall into that category.

If you find yourself nodding your head and wringing your hands right now, keep in mind this simple business axiom: Companies get the advertising they deserve. If your advertising isn’t working, it may be you that’s the problem.

The good news is that you can take steps to fix it. Certainly the economic environment is playing a significant role in how well (and how quickly) prospects are responding to your advertising, but blaming the recession is ultimately unproductive. After all, you may not like the hand you’ve been dealt, but your competitors are holding the same cards. It’s how you play your hand that counts.

With that in mind, I’d like to suggest seven reasons why your advertising may not be pulling its weight. Use them to evaluate your efforts, but don’t rely on your judgment alone. Ask a trusted and objective colleague to give you his or her honest opinion as well.

1. It’s boring. Yep, boring. Why do we watch TV, listen to the radio, read the newspaper, or go online? Three reasons: information, entertainment, and engagement. Ads that fail to offer at least two of these three benefits flop. Just as nobody reads every story in the newspaper, nobody pays attention to every ad. You have to engage your prospects with something that is interesting or entertaining before they’ll give you their valuable time and attention. Creativity has always been the coin of the realm, but in our time-starved culture it’s truer than ever.

2. It’s boorish. You shouldn’t think of your advertising as being about your brand, you should think of it as an extension of your brand (see “A Practical Guide to Branding”). If it’s loud, annoying, insulting, offensive, or self-centered, people will think the same of your products or services (see “The Cocktail Party Test for Advertising”). Remember the first sentence in the best-selling hardback book in U.S. history, The Purpose Driven Life: “It’s not about you.” What’s true in life is true in advertising; if you focus only on what you can get, you’re not going to get much. Instead, focus on giving, and good things will begin to happen.

3. It’s safe. The first time I saw a Ford Taurus (F), I took note, and I suspect you did as well. So did a lot of other people, and the Taurus went on to become the best-selling car in America. If the Taurus had been another in a long line of boxy sedans, it probably would have been just another car. Instead, it turned automotive design conventions upside down and made history. While being different isn’t in and of itself a guarantee of success, what you do is a lot more likely to get noticed if it hasn’t been done before. And keep in mind that when you do something different, people may not like it—at least initially. Most of us were shocked at our first sight of the Taurus’ curved lines, but it went on to have significant influence on automotive design. If you worry too much about offending someone, you’re likely to not attract anyone.
4. It’s trying to do too much. As the poll results above demonstrated, most people don’t engage with most ads. And even when they do, for how long do they pay attention? Thirty seconds? Ten? Five? The best an ad can do is communicate one single, compelling idea, and in the age of the Internet—when people know they can go online to get all the additional information they need—it’s crazy to ask an ad to do more than that. Just because you have a lot to say doesn’t mean your audience will sit still and pay attention. Do your best to make a simple, singular point. Do it with flair, and given enough exposure (see next point) it might just get through.

5. It hasn’t been given time. You can’t rush bread out of the oven. You can’t hurry a seedling out of the ground. All you can do is prepare the ingredients properly, tend the garden with care, and wait for the loaf to rise and sprouts to appear. The same is true of advertising. If you expect too much too soon (especially on a limited budget) you’re sure to be disappointed. Think about your own consumer behavior—how many times do you need to be exposed to a marketing message before you take action? Depending on your prospects’ level of interest in the category and frequency of purchase, it could take weeks, months, or even years for your message to sink in.

6. You like it. O.K., this one may sting a bit, but you are not the best judge of your own advertising. You can’t be, because you simply know too much about your brand and have too much affection for it to remain objective. Look at Burger King (BKC). Its advertising over the past few years has been quite successful in appealing to the company’s core target audience of young men, but many Burger King franchisees could personally do without it. The smart ones recognize that they’re not the target and leave it alone. Your advertising is not only not about you, it’s not for you. Both points seem counterintuitive, but that’s why this stuff isn’t for amateurs.

7. It’s not an advertising problem. A common mistake many companies make is trying to use advertising to fix another problem. It may be faulty or outdated product design, an uncompetitive cost structure, customer service letdowns, or any number of other things. It’s not as if they do so intentionally; it’s just that it’s a whole lot easier to put on a new coat of paint than it is to fix the foundation that’s causing the drywall to crack. No company executes flawlessly, but until you can maintain a solid track record of excellence, spend your money on internal improvements rather than advertising. Paint may mask the problem for a short time, but soon new cracks will begin to appear.

There are, of course, many more reasons why advertising underperforms, from poor media placement to bad strategy to competitive countermoves. But the above missteps are so common—and so commonly misunderstood—that simply putting them out to the curb would go a long way in making advertising better. Not to mention making television much more bearable to watch.

Coca Cola has come up with a great way to make more money: Give you less Coke for more money and get you to think it’s doing you a favor.

Coca Cola is branding the 7.5-ounce cans as “90-calorie portion-control mini-cans.” That translates into they want you to keep drinking Coke, which you might not do if you were concerned about all 140 calories of sugar in the 12-ounce cans.
The Center for Science in the Public Interest — the nation’s food police — shopped around for the shrunken cans and found the 8-packs selling for $3.99. That compares to 12-packs selling in the same stores for $4-$6. The per ounce price consumers are paying for the mini cans ranges from 50% more to more than double the cost for Coke in regular-sized cans.

This isn’t entirely new for Coke. In 2006, the company was marketing its 100-calorie cans. The difference? Those were 8 ounces compared to the newly shrunken 7.5 ounces that weighs in at 90 calories.

My only question is “Are we getting the new Coke in this trickery or is it the old coke that became passé when Coca Cola revamped their formula which was a huge debacle?

Buying rental properties can be a great way to build your wealth. However, as in most real estate investment, it is sometimes difficult to know if you’ve found a good deal – especially the first time. Here are some things to look for to be sure that rental is a great investment.

1. Location. If traffic is heavier, rentals are easier to rent. A sign will often pull more response than an ad in the paper. If it is a nice locale, it will usually rent faster. This is also true of places close to amenities.

2. Numbers. Run the numbers. Get every last expense figured into your calculations, and be sure that you will have positive cash flow from the start.

3. High home prices. Look in towns with high home prices, as this creates rental demand. What do people do when they can’t afford to buy? They rent.

4. Low maintenance buildings. Avoid cedar-shake roofs, and wood-sided buildings. Look beyond current expenses to how much maintenance the building will need. Low maintenance means less headaches and more profits.

5. Good rental history. Ask to see the rental history. Note how long residents are staying on average, and how well they pay on time.

6. Below market rents. Buying rental properties with below-market rents means you get to raise rents. Raising rents means you imediately raise the value, because rental property values are based on income.

7. Complies with zoning and fire codes. Have it inspected, and ask local officials if there are any problems.

8. Less than 20 years old. This is somewhat arbitrary, but if you limit your search to newer buildings, you will be less likely to have building code and maintenance problems.

9.Owner/manager that is out of state. These properties are often the best deals, because it is tough to manage a property from far away. An out of state seller is often more concerned with a quick sale than a high price.

10. Neighborhood is stable or improving. Stable is okay, but if you can buy in a neighborhood that is improving, you’ll rent the units more easily, and therefore get automatic appreciation in value with time.

A better way to find good real estate investments is to look for properties that aren’t yet for sale, and make an offer. I bought my first home this way. I put an ad in the paper stating what I was looking for, and soon had a call from an old couple that had been thinking about selling. I bought their place at a good price, and they saved a broker’s commission.

Buying investment real estate that isn’t for sale starts with a three step search process. First decide what you are looking for. Single family rentals or apartment buildings? Then start looking for properties that fit your criteria. Then contact the owners.

Buying Real Estate From Non-Sellers

Don’t limit yourself to “fixer-uppers” or other “problem” properties that seem more likely to have owners willing to sell. Many owners of investment real estate have thought of selling, so you can start with almost any building you like. You never know beforehand if or why a landlord is ready to call it quits. You find out by asking.

Tact is necessary here. Call the owner and tell him you’re an investor, not a broker. Let him know that you like what you see. Tell him you can have an offer ready in a week if he’s interested. If he’s not interested, thank him politely and hang up, but send him your card or a letter. Many investors have bought from owners that changed their minds.

If there is some interest, explain that you are an investor, so your offer will have to be based on your return on investment. This means you’ll need to see the books. Specifically, you’ll need to see the rent roll, listing the units and what they rent for, plus current occupancy, and operating expenses for the last year.

Have a confidentiality agreement ready before you call. Let the owner know that you’ll sign it and deliver it to him before you see the books. He may not want to let the tenants know he’s thinking of selling, so inspecting the units may have to wait until you make an offer. Just make an acceptable inspection a contingency in the offer.

Why buy investment properties this way? No competition and no sales commission means you may get a better price. Also, instead of waiting for that perfect property to be listed for sale, you just find it now. Why wait until it’s for sale before buying real estate?

Before examining the pros and cons of opening up your own small specialty store, it is important that you know exactly what a specialty store is. In all honesty, there are a number of different specialty store definitions. For instance, some define specialty stores as stores that carry merchandise that is often difficult or hard to find. There are others who define specialty stores as stores that focus on a particular type product, like motorcycle equipment or plus size clothing. In most cases, those that choose to open up specialty stores have a passion for what they are selling.

Speaking of having a passion for what they are selling, there are many specialty store owners who love their small businesses because of that passion. In keeping with the above mentioned examples, a specialty motorcycle store may be run by an avid motorcycle rider or fan and a plus size clothing store may be run by a plus size individual with a fashion flare. Being able to hone in on one of your hobbies it is a great way to spend your days doing something that you know and love. It is also important to note that you can also make a profit at the same time.

Another pro or plus side to starting your own small specialty store is the options that you have. When starting a specialty store, there are many individuals who have a dream of running their own little storefront store, one where customers can come inside and wander around. In addition to opening up a storefront location, specialty stores can also be opened online. In fact, over the past few years, the popularity of online specialty stores has increased in popularity among shoppers. For that reason, you may actually want to think about having both a storefront location and an online business.

Although there are a number of pros or plus sides to starting your own specialty store, you will also find that there are a number downsides to doing so as well. One of those downsides is the competition, especially if you are only interested in having a storefront location. Unfortunately, many large big box retailers have started carrying just about everything under the sun in their stores. Customers tend to like this because they can do all of their shopping under one roof. Unfortunately, the same can not be said with a specialty store. Yes, if you do open up a specialty store, you will still find yourself getting customers, but it may not be as many as you had originally hoped for, thanks to the tough competition.

As you can see, there are a number of pros and cons to starting your own specialty store, like any other type of business. If you are interested in starting your own small business, whether you want it to be a specialty store or not, you are advised to carefully plan out your business before deciding to go ahead and get started. Taking the time to make sure that you are making the right decision is the best way to profit from the development of a small business, not lose money.

When you started your business, you probably dreamed of the freedom you would have doing something every day that you love. However, you may find that running a business doing something you love also brought with it other responsibilities, like finding business insurance. When you find the right business insurance for your organization, though, you will see that it brings you more peace of mind than the burden of responsibility.

When it comes to running your business and obtaining business insurance, you have a number of options. Knowing that one type of business insurance does not fit all will enable you to open your mind to finding the right business insurance for your company. Your first step in finding business insurance is to do a quick assessment of your type of business, your financial situation, and the laws in your area. These three things will help you determine what you need your business insurance policy to accomplish.

The first type of business insurance that you may want to consider is business owner coverage. This is an all-encompassing type of business insurance coverage that allows you protection in the case of fire and other accidents. This type of business coverage also offers a minimal amount of liability coverage, too. Also, you have another option in property insurance. This type of business insurance coverage will enhance the property coverage included in your business owner insurance.

An important type of business insurance that you may want to consider is liability insurance. We are in a society where people sue one another on whims, so liability insurance covers any damage to property or injuries to another person for which you may be responsible. Product liability insurance is another type of liability business insurance that protects you if your product causes harm to a person.

If you run a service-based organization, product liability may not be an issue, but errors and liability insurance is an important type of business insurance for your organization. This type of business insurance protects you if you make an error or forget to do something that causes harm to one of your clients. Also, you may want to consider business income insurance, which provides a source of income to you should something happen that causes your business to cease or limit operations. Finally, if any employee operates a vehicle for your business, you will want to purchase business insurance for your automobiles.

Read the rest of the article here: Business Insurance.

Getting your business up and running is exciting, challenging
and hard work. You’re finally making money – and you are the
driving force that is making your business grow. But have you taken care of the “What ifs”. Like – “What if I get sick, how do I pay my bills” or “What if I have a fire, how do I keep my business running”. Simply put, the one thing you do not want is to have the business that you have labored so tirelessly on, hit a financial snag.

If you are a sole proprietor or a partnership – both your
business and personal liabilities are at risk. Do you think
you’re safe if you incorporate or have an LLC? Many
are misled into believing this is so, however, you too can
become personally liable if you sign a personal guarantee on
a loan, personally injure someone or act irresponsibility. As
you will see, owning business liability insurance can and
does protects your business and personal life from financia
ruin. My discussion here will be limited to Business Interruption,Overhead, Umbrella Liability and Liability Insurance – explaining what these four types of insurance are, and what they can offer you and your business.

Business Interruption Insurance

Business Interruption Insurance helps to insure against any
economic losses that you may encounter if something should
happen to close down your business. For example, you have
a fire in your corner of the house – your business office.
Your home is covered for property damage – thus, the rebuilding is covered, however, what about the lose income you’re losing while you rebuild? That’s where Business Interruption Insurance can come in to play.

Overhead Insurance

There is one type of business insurance that you may want to
consider when your business is making a good profit, and
that would be Overhead Insurance. Overhead Insurance
covers rent, salaries, utilities, insurance premiums and/or
interest payments that are related to the business – this
type of insurance would cover you in case of a major
illness or accident.

Umbrella Liability Insurance

Umbrella Liability Insurance is used for catastrophic
losses. This will protect you in the event someone
wants to sue you. An umbrella policy will upgrade
your basic auto, homeowners or business insurance
to cover these unforeseen events.

Liability Insurance

If you have people coming to your home-based business,
than liability insurance may be something you should
look into it. Liability insurance will cover you against
claims made by others against you for injuries or damages
that occurred on your property.

Yes, your homeowner’s policy includes some liability
insurance, but it may not cover you for liability claims
caused by your business.

To conclude, life offers many unexpected turns in the
road – and basically, that’s what all insurance does – it
protects you against those unexpected bumps in the
road – and keeps you moving toward your goals with only
limited stales. Personally, I believe I can deal with a
small bump in the road better than a complete halt in
business. How about you?

To your success.

If you own or manage a business, either large or small, you will require some type of insurance to protect your company against the various risks and potential multitude of claims, that your business will face.

Commercial insurance or Business insurance as it is commonly known, is a complicated area of underwriting and because all businesses are different, and face different risks depending upon the nature of the company, various packages and combined policy covers have been introduced by insurance companies and commercial broker schemes, to make the process easier.

An example of a small business insurance package which is commonly sold online is the Tradesman’s insurance package, which includes all elements of cover required by a small business or self employed trader such as basic liability covers and theft of tools.

Other small business insurance packages that are trade specific and can often be obtained online are available for shopkeepers, offices, surgeries, hotels and guest houses, restaurants, public houses and builders.

Large companies will be offered what is known as a commercial combined policy which has many different elements of cover which can be combined to make a bespoke policy for the enterprise. Most large companies will require some degree of risk assessment before the policy is underwritten, which may often include a visit to the business premises or site, and for this reason these types of larger business usually employ the services of specialist commercial insurance brokers.

Business Risks

The largest risk that a business faces is from liability to others, and the potential costs and damages a company could face if a claim was made against it.

All companies are required by law to have in place liability cover, called Employers liability insurance or EL, to protect their staff against all potential risks and accidents  while in the workplace.

Business liability insurance is usually sold as a package and will always include Public Liability, often just known as PL, which protects the company against claims from the public whilst on the business premises.

A further type of liability insurance called Product liability is also available to companies under a commercial liability policy which protects the company against claims made for design or manufacturing faults in the product.

Company directors can also protect themselves against liabilities with Directors and Officers insurance (D&O) cover.

Property Damage

Most business large and small will have premises that need protection against buildings perils such as fire and flood and commercial property insurance is available to cover all buildings insurance risks. Similarly commercial contents insurance for business premises is available which covers office and business equipment including files and data processing against the common perils. For companies that carry stock, this type of business contents insurance can be extended to cover risk such as deterioration and damage.

For the small businessman who works from home these covers are often available with strict limits of indemnity, as a bolt on to a standard home buildings and contents policy. This type of cover is often effective for self employed people with just a computer and a home office.

Business Contingency Cover

One of the largest problems faced by a business is that of how to continue in business should the worst occur, for example a fire that destroys the premises. In order to deal with this Insurance companies have devised a cover called ‘Business Interruption Insurance’. Based on your previous years annual turnover, this protection insurance covers your company against all losses caused by interruption to trading due to any of the perils mentioned on the policy and will pay out on a indemnified basis for the period of cover agreed in the policy. Most policies will also offer some type of alternative trading accommodation to enable you business to continue whilst the premises are being repaired.

Additional Commercial Risks

Because commercial insurance is designed to cover all classes of business, there are many various trade or business specific covers available which can be added to a combined policy. Examples of these covers include loss of licence to trade, glass cover, goods in transit cover, book debts, commercial vehicle insurance, hauliers cover, warehouse cover, engineering insurance and plant inspection services, and theft by employees.

Outside of most combined policies are additional risks more often sold under separate policy covers, that should be considered to protect your business against all eventualities.

Examples of these are, Commercial Legal Expenses insurance cover which protects the company against claims made by employees for unfair dismissal and allows you to bring cases against suppliers.

Various protection policies are also available for businesses including Keyman insurance which provides cover against the loss of key people within your organisation. Business mortgage protection provides a monthly payment for business premises should you suffer and accident or sickness. Group ASU policies are also available to protect your staff and employees.

Purchasing Business Cover

Purchasing commercial risks insurance can be a daunting experience for the uninitiated small business owner and unless the risks are straightforward and can be underwritten online, it is advisable for all companies to approach the services of a local or regional commercial insurance broker. Insurance Brokers will not only be able to assess the complete range of risks that your business is exposed to, and provide the correct levels of cover, they will more often than not have a unique local knowledge of the risks involved and will be able to negotiate premiums that reflect the nature of the risks. Furthermore, in the event of a claim, and as most businesses will be faced with claims at some point in their trading life-cycle, the broker will handle all the settlement negotiations with the insuring company and allow you to continue what you do best – running your business.

This might come as a surprise to some, but getting the right insurance for your business might be one of the most important decisions you’ll make as a business owner. The consequences of inadequate coverage, or no coverage, could be devastating. There is a whole world of things that can happen to you and your business. Not protecting yourself and your business with the right insurance could cost you in so many ways.

That’s why engaging in a process of obtaining business insurance right for you and your company is so important. Do you know what general commercial liability insurance is? Well, if you don’t, then it’s just another reason why doing it right is so important. Not doing it right might cost you when you need help the most — during crisis. It’s why people get insurance. It’s why smart business people get smart business insurance.

Doing it right essentially means avoiding some common mistakes made when trying to get the best insurance policy for your business. Knowing what some of these mistakes are, and avoiding them in the future, will help you in your quest to simply make the right business decision when it comes to insurance.

Top 5 Mistakes When Getting Business Insurance:

1. Discounting the importance of business insurance

Business people of all types, whether it be CEO’s of large business conglomerates, or even someone just working out of their home office, have their own set of reasons for getting insurance specifically for their business. But not all business people necessarily think this way. Some think it might be too costly. Some think it might not be necessary . Some may even think that they’re covered by other insurance policies that they have for their property or for themselves.

Not having the insurance specifically tailored for your business often comes as a result of simply not thinking that it’s necessary. But it is. Take general commercial liability insurance, for example. This kind of insurance protects businesses from the costs of lawsuits resulting from basic damages done to people or property that have even the slightest contact with what you do. Not having this coverage when someone decides to throw a lawsuit at you, even if frivolous, could cost you in terms of money and reputation.

2. Not knowing the basic issues

It’s nice to think that insurance is just insurance, but it isn’t. Would you get car insurance for you house? Would you get life insurance for your healthcare? Of course you wouldn’t.

Yes, some of the issues involved in business insurance are similar to other forms of insurance. A good policy will, for example, protect your assets in case they get stolen. It will also protect you if bad weather destroys your business property. These are straightforward insurance issues for your business. But don’t be fooled into believing that they’re the only insurance issues for your business.

For example, take general commercial liability insurance. Some business owners might not even know what liability insurance actually is. It’s the insurance that protects you from the financial costs resulting from a lawsuit from somebody who claims they or their property has been hurt or injured as a result of the way your business conducted itself. General commercial liability insurance is the kind of insurance those companies engaging in commercial activities get to protect themselves because people hurt themselves on their premises or one of their products did damage to someone’s property. Being knowledgeable about these kinds of things will most certainly help you get the right insurance.

3. Not getting insurance early enough

There are two things that can happen to you if you don’t get insurance for your business early enough. The obvious one is that you’ll need it before you get it, and you’ll be stuck with paying for the damages from a storm or a lawsuit yourself. The other thing that can happen is that you will not have a budget for your start-up for the proper insurance, so you’ll get stuck with inadequate coverage. That’s the last thing you want to happen. Therefore, to avoid it, thinking about insurance as early as possible, even at the business plan stage, will help you create the budget you need to get you adequately covered for all future circumstances.

4. Getting the wrong kind of insurance provider

Perhaps the most tempting option for someone seeking business insurance is to get it through insurance companies they’re already doing business with. So, for example, you like how your house is covered, and who’s covering it, so you’ll seek to extend that coverage to your business, too.

The reason this is inadvisable, or should at least be looked at very carefully, is that your property insurance provider might simply not have the kind of experience with the kind of insurance you need for your business.

For example, if general commercial liability is what your particular business is in need of, even if a provider carries that kind of insurance, they may simply not have enough developed expertise to know what’s right for your particular needs. Ideally, only those companies and agents who have dealt with your kind of business before can help your kind of business get you adequately covered for your particular situation.

5. Getting the wrong kind of coverage

Following from the risk of getting the wrong insurance provider, a mistake to avoid is getting the wrong kind of coverage. Ultimately, you’re the person in charge of making the right business decisions for your company. You’re the best person suited to look out for your own interests. No one else is. That’s why it’s incumbent upon you to make sure you’ve got the right coverage for you and your situation.

As much of the above already suggests, delegating these decisions is important. Yet, in the end, it’s you who has to decide if you have the right kind of coverage for your business. After going through the entire process, collecting all the information, and talking to the right people, it’s you who makes the decision. Make sure it’s the right one for your business and where you want to take it.